© pichetw dreamstime.com Components | July 11, 2019
Precision Optics Corporation acquires Ross Optical Industries
Precision Optics Corporation, a designer and manufacturer of advanced optical instruments for the medical and defense industries, has completed the acquisition of certain assets of Ross Optical Industries, Inc. (Ross Optical), a privately-held company based in El Paso, Texas.
The acquisition extends Precision Optics product offering to include a wider range of lens and optical system sizes and expands its presence in the U.S. defense sector. Further, it allows the combined company to leverage Precision Optics’ technical proficiency in offering end-to-end solutions, from design through production, to the Ross Optical customer base, increasing its value-add capabilities. Ross Optical had revenues of USD 3.9 million and net income of USD 410,000 for the 12-month period ended December 31, 2018. As part of the transaction, Precision Optics is acquiring slightly over USD 1 million of net working capital. The total purchase price is up to USD 2 million. “The strategic acquisition of Ross Optical is an important addition to the Precision Optics portfolio which broadens our capabilities and accelerates our efforts to gain economies of scale. We are excited to bring the operations and employees of Ross Optical to the Precision Optics family," says Joe Forkey, President and CEO of Precision Optics, in a press release. "With this acquisition, we see a number of opportunities to leverage our respective strengths to expand existing customer relationships, and to develop new ones, based on the broader offerings of the combined company. This transaction represents a real milestone for Precision Optics and provides a great base for future growth.” Divi Mangadu, who has been Ross Optical’s long-standing President, has agreed to continue in that role for a seamless transition. Precision Optics will continue to operate the acquired entity under Mr. Mangadu’s leadership in its existing facility in El Paso, Texas and anticipates significant cooperation between sales, engineering and manufacturing teams of the two operations.
After a 3% drop, Automotive IC market to surge more than 25% in 2021 Since 1998, only the automotive and communications end-use segments have gained marketshare. Driven by the global explosion of smartphone demand, the communications market almost doubled its share of the IC market from 18.5% in 1998 to 35.0% in 2020.
Sponsored content by ICAPE GroupICAPE Group Service Office in Asia In a context where traveling can be difficult, finding a good partner for your production of electronics parts can be a real challenge. With its unique organization and a Headquarters in China where all the key services are located close to the factories and fully operational, ICAPE Group provides a global solution.
Nokia opens new Testing Centre in the U.S. Nokia has opened its first Open RAN (O-RAN) Collaboration and Testing Center at its offices in Dallas, Texas. Vendors will be able to execute Interoperability Tests (IOT) and end-to-end testing for O-RU/O-DU Open Fronthaul as well as xAPP testing for Nokia’s near-real-time RAN Intelligent Controller (RIC).
Nexperia invests USD 700 million; mostly in Europe and Asia Nexperia has announced the latest stage of its global growth strategy, confirming a USD 700 million investment over the next 12-15 months at its European wafer fabs, assembly factories in Asia and global R&D sites.
IceMOS Technology expands its manufacturing capacity The company is investing in its Belfast, Northern Ireland, facility to ramp production of 200mm wafers while continuing to supply 100mm, 125mm and 150mm wafers and advanced engineering substrates
Sponsored content by congatec AGLow-power flagship for artificial intelligence congatec is expanding its SMARC platform with a new module with an NXP i.MX 8M Plus processor especially for embedded AI applications. Thanks to the extensive ecosystem with application-ready 3.5-inch carrier board, Basler cameras, and AI software stack, fast proof of concept is possible.
Component shortage - an evaluation of the situation The component shortage takes control of most processes in the electronics industry. As Head of Strategic Purchasing at EMS service provider A+B Electronic, Marcus Hartwig has to deal with the subject on a daily basis. “To say the time is about to run out, that would have been right six months ago. It is high time.”
Meyer Burger secures €185 million to expand cell capacity The Meyer Burger group closes a syndicated loan agreement for EUR 125 million and a factoring agreement for EUR 60 million. The debt financing of EUR 185 million serves to expand the annual production capacity to reach 1.4 GW of solar cells in Thalheim (Bitterfeld-Wolfen), Germany and 1 GW of modules in Freiberg, Germany.
SEMI calls for US and EU cooperation on technology and trade SEMI is calling for closer cooperation on technology and trade between the European Union and the United States ahead of a meeting of European Commission and U.S. government officials.
Sponsored content by Shenzen Kinwong ElectronicThe development trend of printed circuit board products and Kinwong's solution With the rapid development of electronic technology in recent years, printed circuit board (PCB) products are pursuing higher heat dissipation capabilities, with high voltage and high current characteristics, and are developing towards high-density interconnection technology (HDI).
Magnachip receives an unsolicited offer South Korean display and power solutions company Magnachip Semiconductor Corporation, confirms that the company has received an unsolicited proposal from a group of investors to acquire all outstanding shares in the company.
Xilinx acquires Silexica to broaden its developer base Xilinx has acquired Silexica, a privately-held provider of C/C++ programming and analysis tools.
SAR converter with PGA achieves dynamic range of 125 dB Question: Could a 16-bit SAR converter application reach a dynamic range of 125 dB at 600 kSPS?
Boyd expands footprint with facility in Vietnam Boyd Corporation is increasing its presence in Asia with the expansion of its design and manufacturing facility in Bac Ninh, Vietnam.
Siemens acquires Nextflow Software Siemens to integrate Nextflow Software’s meshless CFD technology into the Xcelerator software portfolio for fast and automated analysis of complex applications with transient flows and motion.
ICsense continuous growth and invests to support mass production ICsense, a TDK company and subsidiary that focuses on ASIC supply and custom IC design services, is scaling up its bench test facilities by 40% and installing in-house ATE (Automated Test Equipment) facilities to uniquely offer its customers mass production-ready ASICs.
KAMIC Group acquires manufacturer of magnetic components KAMIC Group AB has acquired all the shares in Talema Group, a manufacturer of magnetic components such as transformers, toroids, inductors and chokes with associated design work. The seller is an owner consortium consisting of the Park and Daily families.
designLED Products acquired by automotive tech company LED lighting technology company, designLED Products, has been acquired by Faurecia for an undisclosed sum. Livingston based designLED has developed a technology suited to a growing range of automotive lighting and human machine interface (HMI) applications.
Digi-Key Electronics partners with Rochester Electronics Rochester Electronics joins Digi-Key's marketplace. The partnership will guarantee authentic components at a time when component counterfeit is on the rise due to shortages and high demand.
Massive fire at Chinese polysilicon plant Updated: A Chinese manufacturer of high-purity polysilicon, has suffered an "explosion" at a polysilicon plant in Shihezi City, Xinjiang, China yesterday.
Bosch officially opens wafer fab in Dresden Fully connected, data-driven, self-optimising - those are the three keywords used to describe Bosch's new, massive, wafer fab in Dresden.
GF and GlobalWafers partner to expand semiconductor wafer The USD 800 million supply deal includes USD 210 million in capital expansion, the creation of more than 75 jobs in Missouri and will provide wafers for GlobalFoundries' manufacturing facilities in New York and Vermont.Load more news